Continuing the unbroken upward trend, this multibagger has soared over 4,000 per cent so far this year! Do you own it?
Some of the company's strengths include a low PE, an extremely high RoE and a significant promoter group stake.
The major economies now have started posting stronger economic data than before as a result of aggressive actions taken by all central banks worldwide. Despite outpacing global markets, the Indian domestic indices, Sensex and Nifty 50 have only gained nearly 4 per cent this year.
Whereas most industry majors are struggling to gain positive momentum, several overlooked stocks have amazed investors with their excellent returns despite all the challenges.
Raj Rayon Industries is a low-priced multibagger that has never lost its upward trend and has outperformed sectoral competitors by a significant margin. By hitting back-to-back upper circuits, the stock has risen over 4,000 per cent year to date, reflecting that an investment of Rs 1 lakh in this stock is now worth more than Rs 41 lakh!
On an intraday basis on Wednesday, shares of Raj Rayon Industries soared and hit a new 52-week high of Rs 56.35 per share on the BSE after being locked in the 2 per cent upper circuit.
Incorporated in 1993, Raj Rayon Industries is engaged in the manufacturing and trading of polyester chips, polyester yarn and processed yarn. Some of the company's strengths include a low PE, an extremely high RoE and a significant promoter group stake (almost 95 per cent).
Keep a close eye on this scrip for the upcoming sessions.